The US Bankruptcy Court gave an order to Francesca's Holdings Corporation to obtain DIP financing on a final basis on January 4, 2021. As per the order, the debtor has been authorized to obtain a senior secured super-priority revolving credit facility in the amount of $25 million from Tiger Finance, LLC, which is also acting as the administrative agent. The DIP loan would carry an interest rate of 30 days LIBOR plus 7% p.a. As per the terms of the DIP agreement, the loan carries a DIP facility fee of $0.60 million and DIP agent fee of $0.03 million. The DIP facility would mature on January 31, 2021. Adequate protection would be provided to the DIP lenders in the form of super-priority administrative expense claims which is subject to a carve-out of $0.30 million towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor’s collateral. Greenberg Traurig, LLP has been appointed as legal counsel to Tiger Finance, LLC. The proceeds of DIP financing would be used to pay fees and expenses of the DIP agent and the DIP lenders under the DIP loan document, to pay fees and expenses of the prepetition agents and the prepetition lenders, including, reasonable and documented out of pocket fees of attorneys and other professional advisors of each prepetition agent and the prepetition lenders, including Greenberg Traurig, LLP, to make adequate protection payments, to fund postpetition corporate and operating expenses, to fund costs and expenses of administration of the chapter 11 cases, to pay transaction fees in connection with any asset sale, to pay or prepay for items included in the approved DIP budge. The Court had granted the debtor an interim approval to access $15 million as DIP financing on December 8, 2020.